Wynn Macau Ltd saw its operating revenues grow by 16.3% to HK$39.59 billion (US$5.04 billion) in the 12 months to 31 December 2018, bolstered by a strong performance at its Cotai integrated resort Wynn Palace.
Releasing its FY18 financial results overnight, the Macau subsidiary of Wynn Resorts also revealed a 68.8% increased in profit attributable to owners of the company to HK$6.25 billion (US$796.2 million) and a 26.8% increase in Adjusted EBITDA to HK$10.78 billion (US$1.37 billion).
Casino revenues grew by 15.5% to HK$34.10 billion, with the biggest gain coming in mass where gross table games win increased 33.2% from HK$13.06 billion in 2017 to HK$17.40 billion in 2018. The increase was driven by an increase in business volumes and an increase in the mass market table games win percentage of both Wynn Palace and Wynn Macau.
Slot revenue was also up 14.6% to HK$2.86 billion thanks to a 17.3% increase in slot machine handle.
VIP gross table games win increased 2.6% to HK$27.13 billion in 2018, despite a slight decline in volume at peninsula property Wynn Macau. VIP table games turnover at Wynn Palace grew 16.9% to HK$478.82 billion with VIP win up 26.8% to HK$14.69 billion.
Net non-casino revenues for FY18 increased by 21.8% to HK$5.50 billion, comprising 13.9% of total operating revenues, while room revenues rose 31.1% to HK$2.22 billion primarily due to a higher average daily rate and occupancy rate at both Wynn Palace and Wynn Macau.
Wynn said it paid a total of HK$18.93 billion in gaming taxes and premiums for the year. As per Macau law, the company pays 35% tax on gross gaming win as well as another 4% of that win as a contribution for public development and social facilities.
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